30 Unit Acquisition and Refi
StackSource recently arranged financing for the cross collateralized acquisition and cash-out refinance of a stabilized 30-unit multifamily located in Conway, South Carolina. The property consists of two separate multifamily buildings, one having 12 units and the other having 18. The first 12 unit building was completed in 2021 and has shown high demand with a current waitlist of over 25 people. The waitlist was useful in leasing up the other 18 unit building, which was completed in September. Capital Advisor, Freddy Johnson, secured the deal for this international borrower with a 67% LTC and an exceptional rate of 4.95%.